Future developments
To help us prepare for the future, our climate change strategy also includes:
- developing climate change scenario analysis and embedding this in stress testing programmes
- further embedding climate change risk management across the business
- enhancement of the business’ understanding of the climate change impact of the Group’s lending
- continued engagement with external climate change initiatives, including involvement in industry initiatives, particularly through the Green Finance Institute
- development of formal climate related risk appetites and a full suite of Key Risk Indicators and Key Performance Indicators
The Taskforce on Climate-related Financial Disclosures (TCFD) framework sets out the main themes which companies should cover in their reporting on climate change and this became mandatory for Paragon from the financial year ending 30 September 2022.
Further information is included on pages 64 to 67 of the 2022 Annual Report and Accounts.